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Some market participants see a knee jerk negative impact of the news on the stock on Tuesday. Shares of the company ended 1.5% higher on the National Stock Exchange at Rs 60.25

The index, however, negated its higher highs formation of the last five sessions. Now, it has to continue to hold above 18181 zones for an up move towards 18350 and 18442 levels, whereas supports are placed at 18081 and 18018 levels, said Chandan Taparia of Motilal Oswal.

"Gold prices traded range bound in the Asian trading hours as most of the western market closed on Monday due to New Year holiday. Investors are waiting for FOMC meeting minutes outcome which will be released on Wednesday late night," said an analyst at HDFC Securities.

The Nifty Realty index was trading 0.63 per cent up at 434.5.

“Companies that will succeed this year are probably those that are more traditional in nature may not be the same old companies which were debt-free and high cash flow which are valued at 80 or 90 times earnings might moderate this year. It is more likely companies with relatively high levels of manageable debt are probably going to succeed in the coming year.”

The Relative Strength Index of the stock stood at 51.26 on Monday.

Reliance Securities said while the company has a quality product mix, strong customer base across geographies and industries, good financials and a wide product portfolio, the issue seems pricey based on the current financials.

he largest cryptocurrency, Bitcoin, entered 2023 on a positive note as it witnessed a jump of 0.39% in its value. The largest altcoin Ether also registered a jump of 0.29% to start the new year in green

The dollar index, which measures the value of the greenback against a basket of other major currencies, was trading up around 0.16% at 103.65 - off roughly six-month lows hit last week at around 103.38.The euro was down about a third of a percent at $1.0680, but not far off its highest levels since June.

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